The Law and Economics of Class Actions in Europe: Lessons from America(Hardback)

Synopsis

This well-documented book discusses the power and limitations of class actions with insights and analysis from a panel of distinguished scholars. It pays special attention to the introduction and the applicability of such a legal device in European civil law countries.

The book offers a broad legal and economic investigation, drawing insights from US judicial experience and giving a rigorous discussion of both the philosophical and constitutional aspects and the economic mechanisms and incentives set up by class actions.

The Law and Economics of Class Actions in Europe will be a welcome addition to the bookshelf of all those interested in the function of class action litigation for promoting justice and efficiency. In particular, it will benefit graduate and postgraduate students, researchers and academics in law, economics, and law and economics, policymakers, judges and attorneys.

Customer Reviews

CLASS ACTIONS: A TRANSATLANTIC VIEW OF THE LAW FROM AN ECONOMIC PERSPECTIVE
An appreciation by Phillip Taylor MBE and Elizabeth Taylor of Richmond Green Chambers
Class actions… even the threat of them… generally strike terror in the hearts of those titans of industry who control big corporates.
Even as we peruse this thought provoking book from Edward Elgar Publications, the reality of the class action -- used by individuals as a weapon against the might of a large company -- is currently newsworthy, as groups of vengeful investors gang up against Facebook following its recent disappointing flotation.
‘Class actions,’ says a quote from Theodore Eisenberg of Cornell University, ‘offer a rare opportunity for individuals with small losses to obtain redress against large companies and may provide important incentives to comply with the law.’ They exit in few countries, he adds -- and he would probably also comment that in Europe, they are a relatively new idea which has certainly engendered some controversy and debate.
The sub-title ‘Lessons from America’ will be of special interest to lawyers, legal scholars and theorists outside the US, as well as within it. The book is a collection of articles and essays from legal scholars and academics mainly from Europe, with the commentary focusing primarily upon the power and limitations of class actions and their applicability in European civil law jurisdictions.
‘Some 15 years ago, ‘says Mikko Valimaki in his article on class actions in Finland, ‘the idea of class actions was something new in Europe.’ In Finland itself, ‘partisan claims on class action cases in the United States and their potential implications to companies were used as a strong argument to restrict the law’s scope of application.’
The result apparently in Finland (one of the few European countries that have maintained its financial stability) is that ‘…the law can be applied (there) only in civil litigation in cases between consumers and businesses.’
This, of course, is only one example of dozens of interesting insights in this scholarly examination of the efficacy and efficiency of class actions. The book is certainly an important comparative study and a welcome addition to the body of scholarship on this particular legal procedure.
Lawyers, post-graduate students of law and economics, as well as policy makers and judges concerned with the issues raised by class actions will find this book, with its copious footnotes, a valuable tool for further research into this emerging area of law.

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